loss

Australian insurance group IAG has reported its results, revealing continued deterioration of its Canterbury, New Zealand earthquake claims, challenging commercial market conditions and new reinsurance arrangements with Warren Buffett’s Berkshire Hathaway.

The 2011 Canterbury, New Zealand earthquakes continue to demonstrate how complicated an event major earthquakes can be, in terms of calculating losses, as Insurance Australia Group (IAG) revealed further impacts to its bottom-line from claims deterioration.

In a reminder that catastrophe claims are not always settled rapidly and that it can take some years before the final insurance industry loss and impact to reinsurance markets is clear, IAG has revealed another deterioration in its loss due to the 2011 Canterbury, New Zealand earthquakes.

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has published a report suggesting that hurricane Sandy has not triggered the facility for any of its member countries. Three members were hit by Sandy, with Jamaica being first, then Haiti was impacted by Sandy’s rains and finally the Bahamas was next in Sandy’s path. The CCRIF says […]

Investors in the Crystal Credit Ltd. catastrophe bond type transaction, which securitizes payments related to an indemnity-based excess-of-loss retrocession agreement between Swiss Re and Crystal Credit covering a defined portfolio of credit reinsurance treaties, are facing losses. An update issued today by ratings agency Standard & Poor’s confirms that investors in two tranches of Crystal […]

Swiss Re have released their preliminary estimate of insured losses resulting from natural catastrophes and man-made disasters occurring during 2011. Swiss Re’s sigma team estimate the total insured loss at $108 billion with natural catastrophes contributing $103 billion of that, well up on the $43 billion experienced during 2010.

Estimates for the insured loss total from the flooding in Thailand are still confused and it’s likely to be some time before an accurate figure can be quoted. It seems that the figure we quoted of a $20 billion insured loss from a report by A.M. Best is likely to be too high, but other […]

Ratings agency A.M. Best has suggested that the recent severe flooding in Thailand could result in insured losses of as much as $20 billion once the final extent of the damage is understood. Industry estimates now range from $10 billion to $20 billion and over $4 billion of insurance claims have already been filed. The […]

The floods in Thailand could be the largest loss caused by flooding this decade, according to a representative of Allianz. In this news article, Lutz Fullgraf, Allianz’s CEO for global corporate and specialty in the Asian region, suggested that this will be the largest flood loss for years. We’d offer that it could be the […]

Alterra Capital Holdings, the insurance and reinsurance group formed from the merger of Max Capital and Harbour Point, has announced its third quarter 2011 results (which show solid performance in a not particularly easy market). One item in the results press release is particularly of interest to Artemis readers, their reporting of an investment position […]